Inland Empire Multifamily Complex Trades for $148M
The Venue at Orange opened in 2023 as the first new multifamily development in Redlands, Calif., in three decades
By Nick Trombola August 6, 2025 1:31 pm
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A 328-unit apartment complex in Southern California has just traded hands in one of the largest multifamily deals in San Bernardino County in years.
New York-based Sentinel Real Estate paid $148.4 million, or nearly $452,500 per unit, for the Venue at Orange, a seven-building property in Redlands, Calif. The community was Redlands’ first multifamily development in decades once seller LuxView Properties completed it in 2023, and is the first “high-quality,” stabilized multifamily complex to trade in the Inland Empire since 2021, according to broker Institutional Property Advisors (IPA).
Chris Zorbas, Kevin Green, Joe Grabiec, Kyle Pinkalla, Alexander Garcia Jr. and Gregory Harris of IPA, a Marcus & Millichap division, represented LuxView in the deal and procured the buyer.
“Affluent renters are increasingly drawn to the high quality of life in Redlands,” Green said in a statement. “Strong demographics and the confluence of high single-family home values, rising interest rates, and demand for low-density living have created ideal conditions for rent growth, low vacancy and healthy multifamily operations.”
The Venue at Orange joins a handful of other notable, nine-figure multifamily deals in Southern California in 2025. For example, in one of Los Angeles County’s largest multifamily deals so far this year, JRK Property Holdings put down $129 million for a 401-unit property in Sherman Oaks a couple of months ago.
Elsewhere, Crescent Heights in April paid Essex Property Trust $240 million for Skyline at MacArthur Place, a set of 25-story apartment towers in Santa Ana. The deal amounted to the fourth priciest multifamily sale in Orange County history. Still, the largest trade by far this year in Southern California was MG Properties‘ $309 million purchase of Greystar’s 718-unit complex in Downtown San Diego. That deal was the third largest multifamily sale in San Diego history, and the largest since 2020.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
